Earnings: XM’s Losses Decrease

XM Satellite Radio reported a smaller Q2 loss and a 55 percent increase in subscribers. XM also raised its forecast for subscriber additions for the second half of 2005, saying it now expects to end the year with 6 million subscribers versus its earlier target of 5.5 million.

XM’s quarterly subscription revenue jumped to $113.4 million from $48.6 million a year ago. The company signed up 647,226 net subscribers — a 55 percent increase over last year’s additions — which more than doubled its total users to 4.4 million from 2.1 million a year ago.

Full details in the release.

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